China New City Commercial Development Limited provides earnings guidance for the year ended December 31, 2015. For the year, the company is expected to record a material increase in its profit attributable to the equity holders of the company for the Year of not less than 50% as compared to that of approximately RMB 476.50 million for the corresponding period of 2014. Such increase is primarily due to (i) other interest income from interest-bearing loans to a joint venture; (ii) the gain on disposal of 45% indirect equity interest in a joint venture; (iii) revenue from sales of properties increased by approximately 3.6 times as compared to the corresponding period of 2014, resulting in the increase of profit; and (iv) fair value gain upon transfer to investment properties.
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- China New City Commercial Development Limited Provides Earnings Guidance for the Year Ended December 31, 2015